Small business owners, learn more about applying for an Injury Disaster Loan. Also, review the steps to take now and prepare to access much-needed funds to help keep your workers on the payroll during this disruptive period. Further guides will be developed as the CARES Act becomes implemented.
Apply for a COVID-19 Economic Injury Disaster Loan
The stimulus government package passed the other day provides relief to businesses. Initially a $10,000 grant that does NOT have to be paid back. If you want this funding apply online. This is first come first serve and there is not enough for everyone so apply now if you want to be considered.
THE ADVANCE – $10,000 does not have to be paid back
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
Small Business Guide and Checklist
The U.S. Chamber of Commerce has created a guide to help small businesses, independent contractors, and gig economy workers prepare to file for a coronavirus relief loan under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The U.S. Chamber’s Coronavirus Small Business Guide (available at uschamber.com/sbloans) outlines the steps small businesses should take now and prepare to access much-needed funds to help keep their workers on the payroll during this disruptive period. Further guides will be developed as the CARES Act becomes implemented.